Click on this Wall Street Journal chart showing the Case-Shiller index of housing values in the 20 largest metropolitan areas in the United States. When you sort by "Annual Change," the cities ranked 2 through 20 are all showing price contraction, from Detroit (-0.9%) to Minneapolis (-10.0%). But here in the nation's capital, which is busy hiring people to figure out how to fix the economy, growth is at a robust +4.3%. There's probably a lesson in there somewhere.
Link via the Twitter feed of David Frum.